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20130326
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secretary. assista assistant attorney general for the civil rights. we will bring you that press conference as soon as it does happen. but again, another announcement of a nominee to his cabinet from the white house. >> maintaining a hispanic is very important point in the cabinet. >>> let's check on the market in chicago. rick santelli is with the "santelli exchange." >> thanks, simon. i would like to welcome our guest. i'm really glad zach is my guest today because i think he's one of the most sensible, everybody keeled people on our air. >> thank you, rick. >> okay, now, i read your notion of how we should approach the news of the weekend and indeed today regarding cyprus. i would like you to share that with the viewers and listeners. >> yeah, i mean, this definitely is one of these moments of mind-boggling market excuses for what looks to be like a pretty modest sell-off. i mean, this has been talked about a lot this morning but i'm going to repeat. . one half% of the entire eu gdp. cyprus approaches the earnings of apple so we really are in the realm of psychology. unless you believe t
, you're framing it as a new class of people. >> it's a straight up civil rights case. >> we will see. many thanks. howard dean, we appreciate it. kelly ann conway, as always. up next, financial markets frowned on today's last minute cyprus bank bailout or deposit or bail-in. i say it's the right policy. does it spell more trouble for the euro zone? has a similar depositor crisis already happened here in the usa? >>> cyprus clinched a last-minute deal to resolve the country's financial crisis. cnbc's international correspondent michelle caruso-cabrera joins us from cyprus with the very latest. good evening, michelle. >> reporter: cyprus finally secured a bailout agreement, but it's a tough one. in exchange for the money, they agreed to downsize their two biggest banks, which means thousands of job losses and a big hit to the economy. in terms of bailouts, big firsts here. bond holders and uninsured depositors will face losses. that hasn't happened before. now investors are on notice. they're going to have to be a lot more careful. the european taxpayer isn't going to protect you like
of directors--in violation of the company's internal controls. i mean, that's a deliberate circumvention, right? >> it certainly sounds like it. and it certainly sounds like a good place to start a criminal investigation. >> in fact, according to a civil suit filed by the securities and exchange commission, countrywide's chief executive officer, angelo mozilo, knew as early as 2006 that a significant percentage of its subprime borrowers were engaged in mortgage fraud and that it hid this and other negative information about the quality of its loans from investors. when the case was settled out of court, the s.e.c.'s director of enforcement, robert khuzami, called mozilo "a corporate executive who deliberately disregarded his duty to investors by concealing what he saw from inside the executive suite-- a looming disaster in which countrywide was buckling under the weight of increasing risky mortgage underwriting, mounting defaults and delinquencies, and a deteriorating business model." mozilo, who admitted no wrongdoing, accepted a lifetime ban from ever serving as an officer or director of a pu
Search Results 0 to 2 of about 3